LinkedIn records 35% rise in quarterly revenues

Despite the revenue growth from its hiring services, net losses widened

LinkedIn Corporation, the social networking website, reported a 35 per cent rise in quarterly revenue as demand grew for its hiring services.
LinkedIn Corporation, the social networking website, reported a 35 per cent rise in quarterly revenue as demand grew for its hiring services.

LinkedIn, the operator of the world’s biggest online network for professionals, reported a 35 per cent rise in quarterly revenue as demand grew for its hiring services.

However, the net loss attributable to LinkedIn widened to $45.8 million in the first quarter ended March 31st from $42.5 million a year earlier. Revenue rose to $860.7 million from $637.7 million.

Shares in LinkedIn rose by nearly 10 per cent in after-hours trading.